The Best Time to Buy a Car – 4 Tips for Getting a Monster Deal

Car salesman shaking hands with buyer at dealershipBuying a car is a necessity for most adults, multiple times throughout their lives. For some, getting the keys to a car of their dreams is an exhilarating feeling – for others, a vehicle that delivers them from point A to point B is enough. No matter which situation you are in, purchasing a vehicle takes some work on the front end to ensure you’re getting the best deal in terms of pricing on the car itself and the cost of financing should you need to take out an auto loan. It is also necessary to know the best time to buy a car if you really want to pinch those pennies. Here are a few tips.

Avoid the Weekend Rush

Most people aren’t visiting a car dealership during the week but instead, wait until Saturday or Sunday to find their next ride. Because foot traffic is slow Monday through Thursday, salespeople are more inclined to work with potential buyers on a deal. There is a bit of fear that the weekend won’t bring as many opportunities to sell as someone may need to meet a weekly or monthly quota, so the power remains in your hands as the buyer if you show up ready to buy on a weekday.

Aim for End of Month

Commission and quota processing happens close to the last day of each month for car salesmen, and if they are short on their numbers, they are ready to negotiate with any potential buyer who steps foot on the lot. Planning your car purchase a few days prior to the end of the month will help you secure the best discounts and possibly better dealership financing, saving you hundreds to thousands on your vehicle purchase.

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Model Changes

Regardless of the day or week or month you visit a dealership, you have the most buying power when model changes take place. The largest automakers in the U.S. announce the latest models of their vehicle lineups between August and September each year. Because dealerships are trying to make room for the newest models, you as the buyer have some negotiating power when this change takes place. The same goes for a model that is being discontinued or re-branded as a new offering. If you’re looking for a new vehicle but don’t mind having last year’s version, you can snag a pristine deal by shopping in late summer or early fall.

Holidays

You may also have an opportunity to haggle down the price of a new or used vehicle during certain holidays. Dealerships often have promotions during long weekends and major holidays, including 4th of July, Presidents’ Day, Memorial Day, and Labor Day. The end of the year also provides an opportunity to secure a cost-saving deal on a car purchase, specifically between Christmas and New Years. Most dealerships see far less foot traffic during the last week of the year, and they are ready to make their year-end goal by giving buyers deep discounts.

Final Thoughts

Before walking onto a car dealership lot, know the times of day, month, and year that provide the most opportunity to negotiate with your salesperson. To sweeten the deal, make sure to have your auto financing in place beforehand and shop around to various dealerships to ensure you’re getting the most bang for your buck.

Posted on May 8, 2017 by in Automobiles

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